Sales of Smoking Cessation Products Reach $1 Billion
Smoking cessation product sales reached $1 billion last year in the United States, according to the market research firm Mintel. Sales are expected to reach $1.2 billion by 2017, according to CSPnet.com.
“As more Americans put out their cigarettes, the market for smoking cessation products is expected to grow, despite challenging economic circumstances; however, smoking cessation brands face certain challenges,” Mintel Health and Wellness Analyst Emily Krol noted in a news release. “A declining number of smokers, as well as increased smoking bans and taxes on cigarettes are shrinking the market of potential users. Growth opportunities for this market will be found in product innovation and line extensions.”
According to Mintel, 41 percent of smokers interested in quitting say they would consider trying over-the-counter nicotine sprays, and 41 percent want to try a prescription nicotine inhaler. Forty percent say they would use over-the-counter nicotine replacement lozenges, and 38 percent would like to use nicotine-free cigarettes.
Some smokers are also intrigued by non-nicotine replacement methods including hypnosis (35 percent), acupuncture (34 percent) and individual therapy or a smoking cessation support group (37 percent). In addition, 30 percent said they are willing to try a quit-smoking app on their smartphone or tablet.